Tax
US citizens in Japan: US and Japanese taxes, FBAR and the foreign tax credit
US citizens taxes in Japan: you still file a US return on worldwide income, may owe an FBAR, and can use the foreign tax credit or exclusion.
- Threshold
- Over ¥50 million abroad on 31 December
- Deadline
- 30 June of the next year
- Exempt
- Non-permanent residents (5 years or less in 10)
- Penalty
- Up to 1 year in prison or ¥500,000 fine
Short answer
You must file an overseas assets report (国外財産調書) if you are a resident other than a non-permanent resident and your foreign assets total more than ¥50 million on 31 December. As of October 2026, it is due by 30 June of the next year. Non-Japanese residents with 5 years or less in Japan in the past 10 are non-permanent residents and do not file. A false or missing report can bring a fine up to ¥500,000 or up to a year in prison, plus a heavier surcharge.
Japan’s overseas assets report (国外財産調書) is required if you are a resident and your foreign assets total more than ¥50 million on 31 December. As of October 2026, foreigners who are non-permanent residents (5 years or less in Japan in the past 10) do not file. The report is due by 30 June of the next year, to your tax office (税務署). A visa or permanent residency card does not decide this. Your time in Japan does.
Filing threshold
Over ¥50 million
Total value of assets held abroad on 31 December, for residents other than non-permanent residents. Due 30 June of the next year.
Do foreigners have to file an overseas assets report in Japan?
Some do. The National Tax Agency (国税庁) says residents other than non-permanent residents must file if their foreign assets total more than ¥50 million on 31 December. The test is the total, not any single asset.
The rule applies to residents (居住者) for tax. Within that group, the question is whether you are a non-permanent resident (非永住者).
| Your situation on 31 December | Must you file (if over ¥50 million abroad)? |
|---|---|
| Not a Japanese national, 5 years or less in Japan in the past 10 | No (non-permanent resident) |
| Not a Japanese national, more than 5 years in Japan in the past 10 | Yes (full resident) |
| Japanese national living in Japan | Yes |
| Not a resident of Japan | No |
Your status is judged on 31 December of that year. Permanent residency (永住許可) does not change the count. A permanent resident with 5 years or less in Japan in the past 10 is still a non-permanent resident for tax. The full explanation is in Japan tax residency for foreigners.
If you are close to the 5-year point, check your own count with a licensed tax accountant (税理士). We did not find a rule in the agency’s pages on how partial years are counted.
What counts as an overseas asset?
An asset counts if it is “abroad”. The agency decides this by type of asset, not by where you are.
| Asset | Where it is “abroad” |
|---|---|
| Real estate, other movables | Where the property is |
| Bank deposits | Where the branch that took the deposit is |
| Shares, funds, bonds | Where the broker office holding the account is |
| Crypto-assets | Where the owner lives, so a resident’s crypto on a foreign exchange is not reportable |
Two cases surprise people. A foreign-currency deposit at a branch in Japan is not a foreign asset, even at a Japanese branch of a foreign bank. A home-country bank account or a share account at a foreign broker is.
Other points from the agency’s FAQ:
- Joint accounts and property. Value your share. If the shares are not fixed, the agency says to split equally.
- Small movables. Non-business movables worth under ¥100,000 per item or set need not be listed.
- Unrealized losses. Losses on open margin or derivative positions are included in the ¥50 million test.
- Inheritance. In the year you inherit, you may leave the inherited foreign assets off the report. They are also left out of the ¥50 million test that year.
How are foreign assets valued?
Use the value on 31 December. The agency asks for market value (時価), or an estimated value (見積価額) where there is no market price.
Convert foreign currency to yen at the rate published on 31 December by the bank you deal with. The FAQ names the telegraphic transfer buying rate (TTB). If there is no rate that day, use the nearest earlier one.
When and how do you file?
For tax year 2025, the deadline is 30 June 2026. Up to tax year 2022, it was 15 March. The change to 30 June applies from tax year 2023. Some older web pages still show March.
- You Check your status on 31 December Resident other than non-permanent resident? Count your time in Japan over the past 10 years.
- You Add up foreign assets in yen Use the 31 December value and your bank's TTB rate. Is the total over ¥50 million?
- You or a 税理士 Fill in the report and summary sheet Name, address, My Number, then each asset by type, use (general or business), location, quantity and value. Attach the summary sheet (国外財産調書合計表).
- You Send it by 30 June Submit to the tax office for your address, or by e-Tax. e-Tax needs a user ID obtained with a My Number Card and the e-Tax software, not the web version.
The report is in Japanese. We did not find an English version of the form or the agency’s FAQ. A 税理士 can send it by e-Tax for you if the conditions in the agency’s leaflet are met.
You can fix mistakes later by filing again, before or after the deadline. List all foreign assets again, not just the corrected ones.
What if you leave Japan before 30 June?
If you leave Japan between 1 January and 30 June, and you have not filed, you do not need to file. The FAQ defines leaving as having no home or residence in Japan and not appointing a tax agent (納税管理人). If you appoint a tax agent, the exemption does not apply. See the leaving Japan checklist for the other steps.
What are the penalties?
There are two kinds, both from the National Tax Agency’s leaflet.
- Criminal penalty. A false report, or no report by the deadline without a justifiable reason, can lead to up to 1 year in prison or a fine up to ¥500,000. For a missed deadline, the sentence may be waived depending on the circumstances.
- Surcharge change. If you file on time and tax on a listed foreign asset was under-declared, the surcharge (過少申告加算税) on that asset is reduced by 5%. If you did not file on time, or left the asset off, it is increased by 5%.
A late report filed before the tax office sends an audit notice (調査通知) is treated as on time for the surcharge reduction. The rule covers reports filed from 1 January 2024.
Is this the same as reporting foreign income?
No. The overseas assets report lists what you hold. It is not a tax return. Income from those assets is taxed under your residency status, and is reported on your tax return.
A separate report, the assets and liabilities report (財産債務調書), applies to people with total income over ¥20 million and assets of ¥300 million or more, or any resident with assets of ¥1 billion or more. If you file both, you still file the overseas assets report when foreign assets exceed ¥50 million.
More guides
Questions people ask
Do I have to report foreign assets in Japan?
Only if you are a resident other than a non-permanent resident and your foreign assets total more than ¥50 million on 31 December. Below that, this report is not required. Your foreign income can still be taxable, which is a separate question.
Do non-permanent residents have to file an overseas assets report?
No. The National Tax Agency excludes non-permanent residents: residents without Japanese nationality who have lived in Japan 5 years or less in total in the past 10 years. Whether you are one is judged on 31 December.
What is the deadline for the overseas assets report?
30 June of the following year. For tax year 2025 the deadline is 30 June 2026. Reports for 2022 and earlier were due on 15 March; the 30 June date applies from tax year 2023.
Are crypto assets on a foreign exchange reported?
No, according to the tax agency's FAQ. For crypto-assets, the location is the owner's address, so a resident's crypto on a foreign exchange is not treated as being abroad for this report.
What is the penalty for not filing the overseas assets report?
A false report, or no report by the deadline without a justifiable reason, can lead to up to 1 year in prison or a fine up to ¥500,000. The court can waive the sentence for a missed deadline. Separately, the surcharge on any under-declared income from those assets rises by 5%.
Sources
- 【国外財産調書及び財産債務調書の提出】Q49-Q50, National Tax Agency (国税庁) (accessed Oct 26, 2026)
- 国外財産調書制度 leaflet (令和8年8月), National Tax Agency (国税庁) (accessed Oct 26, 2026)
- 国外財産調書制度 (FAQ) (令和8年8月), National Tax Agency (国税庁) (accessed Oct 26, 2026)
- No.2010 納税義務者と課税所得の範囲, National Tax Agency (国税庁) (accessed Oct 26, 2026)
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